Earnings

Walgreens (WBA) earnings Q3 2023

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Walgreens earnings tumble on lower Covid demand

Walgreens Boots Alliance on Tuesday slashed its full-year earnings guidance as it fell short of Wall Street expectations for its fiscal third quarter due to lower consumer spending and a drop in demand for Covid vaccines and testing.

The retail pharmacy chain lowered its earnings guidance to a range of $4.00 to $4.05 per share for the full year, down from its previous forecast of $4.45 to $4.65 per share.

CEO Rosalind Brewer told analysts during the company’s earnings call that she was disappointed by the reduced profit guidance for the year.

Brewer said soft demand for Covid vaccines and lower consumer spending is likely to extend into next year. She said the company is closing watching…



Source cnbc.com

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